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Builders’ sales expectations for the next six months declined a steep 10 points to 70, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The index doesn’t often see such large monthly moves. Builders’ view of current sales conditions fell 3 points to 86.
Overall, builder sentiment in the market for single-family homes dropped 2 points to 79 in March. February’s read was also revised lower. Last March it stood at 82.
This is the fourth straight monthly decline and the first time the index has slipped below 80 since last September, when the delta variant of Covid-19 was spreading. Anything above 50 is considered positive sentiment.
Hardly surprising, given the highest inflation rates in 4 decades. Everything Brandon touches turns to crap. When we see the repeat of 2008 heading into a mid-term election, we should see a great blue flush.
Probably because the Fed will raise interest rates to curb inflation (something I think they should have done years ago). This will cause fewer people to be able to afford home buying, and it will likely cause home prices to drop as well since people will need to pay much more on interest.
You complain about inflation. The fix for inflation is to raise interest rates. The Fed hasn't even taken that action yet, but apparently the mortgage companies are already factoring it in.
if you are truly concerned about inflation, then higher interest rates and lower home sales are a good thing.
You complain about inflation. The fix for inflation is to raise interest rates. The Fed hasn't even taken that action yet, but apparently the mortgage companies are already factoring it in.
if you are truly concerned about inflation, then higher interest rates and lower home sales are a good thing.
The fix for inflation is for the government to cease spending.
It's the government spending insane amounts of money and encouraging people to stay home rather than work that caused this situation.
You complain about inflation. The fix for inflation is to raise interest rates. The Fed hasn't even taken that action yet, but apparently the mortgage companies are already factoring it in.
if you are truly concerned about inflation, then higher interest rates and lower home sales are a good thing.
Interest rates on Mortgages are generally tied more towards the 10 year than the Federal Funds rate, though changes in the Federal Funds rate tends to impact the 10 year. With that said, the 10 year will often move in anticipation of what is expected in the Federal Funds rate, which is what has been happening in the market recently. Much, though potentially not all of the expected changes to the Fed Rate is already figured into the 10 year and the mortgage rates.
You complain about inflation. The fix for inflation is to raise interest rates. The Fed hasn't even taken that action yet, but apparently the mortgage companies are already factoring it in.
if you are truly concerned about inflation, then higher interest rates and lower home sales are a good thing.
The very same people that caused this inflation are the ones to fix it.
The Federal Reserve.
We've seen this movie over and over and over in the course of US History.
And each time they think they can "control" it when they start printing money.
Hardly surprising, given the highest inflation rates in 4 decades. Everything Brandon touches turns to crap. When we see the repeat of 2008 heading into a mid-term election, we should see a great blue flush.
Rates now are currently in line with what they were in mid 2019.
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